Swap hotels for more space and comfort in a home away from home


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Rare are the times I can truly boast about being a trendsetter but with 10 years of home exchange under my belt, this is one trend that I can claim to have been in on from the start. Having spent this time holidaying in other people's properties around the world, I've always wondered why more people aren't open to the idea, though now it finally seems that they are.

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A straw poll of the most popular home exchange websites reveals that listings are increasing dramatically. Debbie Wosskow founded www.luxehomeswap.com in 2010 and the site now has more than 1,500 listings. Wosskow now prefers holidaying in real homes over hotels.

"Small children and boutique hotels really don't mix. Home exchange is the obvious solution and I saw a gap in the market for luxury house swaps," she says.

Wosskow credits the global economic downturn for boosting home exchanges and says that research proves that savings are a major factor for boosting the trend: "Client surveys show that most save several thousand [pounds Sterling] on their holidays - it is a significant factor."

I first swapped my six-bedroom Victorian London terrace 10 years ago with a family from Cornwall. My then small children, Bruno and Tatiana, loved having access to other children's books, games, toys and even pets. As they've grown we've holidayed in fabulous properties in California, New York, Boston, Tobago and Dubai, as well as European destinations such as France, Italy and the occasional exchange in the UK when funds are tight.

We've realised that there are few places in the world where "strangers" who are happy to trust others don't exist and, wherever you live, you find that there is someone who wants to visit your part of the world. So far, so good, I hear you say, but what about the downsides?

Two common concerns are whether you can really trust a stranger with your home and prized possessions and what if they - or you - feel that your homes are not of a compatible standard? Architectural consultant Graham Jones, 63, recently asked himself both questions before bravely deciding to list his two luxurious homes on luxhomeswap.com.

He explains: "I wanted to make sure that any person I swapped with would be a like-minded individual.

"I think this site means that it's more likely that their property would be of equal standard to mine."

And that's a pretty tall order. Based in Abu Dhabi for seven months of the year, where he stays in a five-star hotel, Jones plans on exchanging his picture-perfect boutique villa, complete with staff, in Bali and his main home - an architecturally superb two-bedroom town house in Victoria, Australia, which has won seven design awards.

Now freelancing, Jones is at the stage of life where he could enjoy five-star travel around the world with his wife, Petronella, 60, but, with an eye on retirement, he prefers not to.

"I'd rather save money and take more trips so home exchange can work well for us," he says.

With three bases, the couple can be flexible and freelance consultancy equals greater freedom: "I really want to be able to spend a month or so in places like the French Riviera, Lake Como and Tuscany. We're not the sort of people who like arranged tours but prefer living like locals, sitting over a bottle of wine in a St Germain cafe."

Currently deep in negotiation for his first exchange trip to Morocco, Jones believes the advantages of swapping homes far outweigh any concerns.

"I'm sure there's always some apprehension," he says, "but the idea of exchanging with like-minded individuals gives us peace of mind."

Wosskow is seeing growing numbers of clients, just like Jones, who are choosing to use their most valuable asset as currency to fund their own travel. Exchangers typically are self-employed, creative types, many of whom travel for work and, she says, bad experiences are rare and largely avoidable.

"It's all down to communication beforehand," she says. "I'd advise around 20 email conversations to iron out the detail, boring things such as towels, linen and cleaning. Small, niggling things sometimes cause tensions." A year's subscription to luxehomeswap.com costs US$161 (about Dh590) and gives you access to around 1,000 often eye-wateringly attractive principal and second homes in places as far afield as Argentina and Australia, including a 19th-century French chateau and sumptuously staffed Thai villa.

Apartments and smaller homes are also listed and Wosskow maintains that, for exchangers, location is often more important than size, although she has rejected one property. "It just didn't look right," she says.

Whatever the standard of your property, listing detailed, accurate information on your home and location alongside the kinds of photographs you might use if you were selling it, is vital.

Currently, luxehomeswap.com lists just one UAE property but that, adds Wosskow, is an advantage for anyone tempted to try exchanging.

Another site, www.homeforexchange.com, currently boasts 14 UAE properties among its 14,000 listings.

A subscription costs US$65 annually and even relatively unknown destinations such as Kazakhstan and Fiji feature, although not as heavily as France and the US.

Having listed their spacious, three-bedroom Dubai apartment, which shares all the amenities of an adjoining five-star hotel, it's no wonder that Phil Taylor, 56, and wife Diana, 42, get a steady stream of offers from around the world.

"Dubai is such a great place for a holiday, with so many things to do here. Our serviced apartment has everything you could want, such as indoor and outdoor pools and gym; you'd pay a lot to stay in the hotel right next door," says Phil, who heads leisure consultancy Team Leisure, which is responsible for Ski Dubai.

Like many exchangers, Phil and Diana have two small children and have found that young families and hotel accommodation can be incompatible.

"We've stayed in hotels with our children and it's difficult keeping noise down and lights off when they are trying to sleep," says Phil.

"By exchanging homes you get much more space and comfort and often get toys and equipment that you can't take with you when travelling."

So far, the couple have undertaken two highly successful exchanges, in Denmark and Switzerland, which were problem-free and which saved them a great deal on their holiday budget. "Both were very good properties, really excellent and which we couldn't have afforded to rent," Phil explains. "As well as comfort, cost is also a factor."

The Taylors have two more exchanges in the pipeline and are eagerly awaiting a trip to London this summer. With family in Europe, they can afford to be flexible on timings and find that home exchanges work particularly well for anyone with a second home.

Exchanging a second home may be unproblematic but, for anyone planning exchanging their main home in the Gulf, exploring the terms of your rental lease is advisable, although it hasn't proved problematic for Phil.

"We're issued with guest passes for anyone staying in the apartment, as long as we supply names and aren't charging rent," he says

Phil's top tips for a successful exchange? "Keep an open mind and fully inform yourself of what size and type of property you are going to and be clear about how you intend using their property and how they will use yours. It's all about mutual respect."

For me, one of the best aspects of swapping homes has been "meeting", mainly virtually but occasionally in the flesh, like-minded folk from around the globe who are happy to share their homes and their tips for a great holiday into the bargain.

Thanks to my exchange partners I've enjoyed their favourite restaurants, bars, beaches and galleries, resulting in a far more rounded experience as a local, rather than a mere tourist. I may not have saved the maximum that luxehomeswap.com estimates some of its members have saved on accommodation - US$50,000 has been the biggest saving for a customer so far - but my experiences on the trips and memories are priceless.

The Facts: Tips for would-be home swappers

• Check out your lease to see if home exchange is allowed

• Inform your house insurers to see if they are generally OK with someone being in your home while you're away

• Include plenty of detail on your home, location and yourself so that exchangers can match themselves with you

• Having de-cluttered, post the kind of photographs you'd expect from an estate agency, emphasising your property's positives

• Consider what "extras" you can include as part of the deal. This could be major items such as a car or boat, or less valuable but often useful things such as museum membership, discount or travel cards

• Browse a range of home exchange sites to see how many and what sort of properties and destinations they list and what service they offer

• Be proactive and contact potential exchange partners in destinations and homes you want to visit

• Communicate thoroughly with any potential exchange partner. If you have any doubts, back out

• Once you've found an exchange partner, discuss all aspects of the deal, particularly things like cleaning, use of towels, linen and telephone

• Consider signing an agreement that many sites now offer as part of your subscription. They generally spell out what each partner expects from the exchange

• Consider specialist travel insurance. Again, the best sites offer suggestions

• Second homes are easier to swap as they are typically rented anyway but principal homes should be left clean and tidy and with space cleared in bedrooms for guests' belongings

• Before the visit, cast a critical eye on the property and see if there are aspects that you can improve upon.

• Ask a friend, neighbour or cleaner to meet and greet your guests, show them around the property and be on-hand for potential problems

• Leave a selection of maps, and guidebooks as well as detailed information on your property and holiday tips for guests

if you go

The flights Fly Dubai, Air Arabia, Emirates, Etihad, and Royal Jordanian all offer direct, three-and-a-half-hour flights from the UAE to the Jordanian capital Amman. Alternatively, from June Fly Dubai will offer a new direct service from Dubai to Aqaba in the south of the country. See the airlines’ respective sites for varying prices or search on reliable price-comparison site Skyscanner.

The trip 

Jamie Lafferty was a guest of the Jordan Tourist Board. For more information on adventure tourism in Jordan see Visit Jordan. A number of new and established tour companies offer the chance to go caving, rock-climbing, canyoning, and mountaineering in Jordan. Prices vary depending on how many activities you want to do and how many days you plan to stay in the country. Among the leaders are Terhaal, who offer a two-day canyoning trip from Dh845 per person. If you really want to push your limits, contact the Stronger Team. For a more trek-focused trip, KE Adventure offers an eight-day trip from Dh5,300 per person.

Results

2pm: Serve U – Maiden (TB) Dh60,000 (Dirt) 1,400m; Winner: Violent Justice, Pat Dobbs (jockey), Doug Watson (trainer)

2.30pm: Al Shafar Investment – Conditions (TB) Dh100,000 (D) 1,400m; Winner: Desert Wisdom, Bernardo Pinheiro, Ahmed Al Shemaili

3pm: Commercial Bank of Dubai – Handicap (TB) Dh68,000 (D) 1,200m; Winner: Fawaareq, Sam Hitchcott, Doug Watson

3.30pm: Shadwell – Rated Conditions (TB) Dh100,000 (D) 1,600m; Winner: Down On Da Bayou, Xavier Ziani, Salem bin Ghadayer

4pm: Dubai Real Estate Centre – Maiden (TB) Dh60,000 (D) 1,600m; Winner: Rakeez, Patrick Cosgrave, Bhupat Seemar

4.30pm: Al Redha Insurance Brokers – Handicap (TB) Dh78,000 (D) 1,800m; Winner: Capla Crusader, Bernardo Pinheiro, Rashed Bouresly

Results

5pm: Warsan Lake – Maiden (PA) Dh80,000 (Turf) 2,200m; Winner: Dhaw Al Reef, Sam Hitchcott (jockey), Abdallah Al Hammadi (trainer) 

5.30pm: Al Quadra Lake – Maiden (PA) Dh80,000 (T) 1,600m; Winner: Mrouwah Al Gharbia, Sando Paiva, Abubakar Daud 

6pm: Hatta Lake – Handicap (PA) Dh80,000 (T) 1,600m; Winner: AF Yatroq, George Buckell, Ernst Oertel 

6.30pm: Wathba Stallions Cup – Handicap (PA) Dh70,000 (T) 1,600m; Winner: Ashton Tourettes, Adries de Vries, Ibrahim Aseel 

7pm: Abu Dhabi Championship – Listed (PA) Dh180,000 (T) 1,600m; Winner: Bahar Muscat, Antonio Fresu, Ibrahim Al Hadhrami 

7.30pm: Zakher Lake – Rated Conditions (TB) Dh80,000 (T) 1,400m; Winner: Alfareeq, Dane O’Neill, Musabah Al Muhairi.  

Three ways to boost your credit score

Marwan Lutfi says the core fundamentals that drive better payment behaviour and can improve your credit score are:

1. Make sure you make your payments on time;

2. Limit the number of products you borrow on: the more loans and credit cards you have, the more it will affect your credit score;

3. Don't max out all your debts: how much you maximise those credit facilities will have an impact. If you have five credit cards and utilise 90 per cent of that credit, it will negatively affect your score.

Sanju

Produced: Vidhu Vinod Chopra, Rajkumar Hirani

Director: Rajkumar Hirani

Cast: Ranbir Kapoor, Vicky Kaushal, Paresh Rawal, Anushka Sharma, Manish’s Koirala, Dia Mirza, Sonam Kapoor, Jim Sarbh, Boman Irani

Rating: 3.5 stars

RESULT

Huddersfield Town 1 Manchester City 2
Huddersfield: Otamendi (45' 1 og), van La Parra (red card 90' 6)
Man City: Agüero (47' pen), Sterling (84')

Man of the match: Christopher Schindler (Huddersfield Town)

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How to protect yourself when air quality drops

Install an air filter in your home.

Close your windows and turn on the AC.

Shower or bath after being outside.

Wear a face mask.

Stay indoors when conditions are particularly poor.

If driving, turn your engine off when stationary.

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Who's who in Yemen conflict

Houthis: Iran-backed rebels who occupy Sanaa and run unrecognised government

Yemeni government: Exiled government in Aden led by eight-member Presidential Leadership Council

Southern Transitional Council: Faction in Yemeni government that seeks autonomy for the south

Habrish 'rebels': Tribal-backed forces feuding with STC over control of oil in government territory

Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.

Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.

Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.

Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.

“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.

Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.

From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.

Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.

BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.

Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.

Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.

“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.

Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.

“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.

“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”

The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”

In numbers: China in Dubai

The number of Chinese people living in Dubai: An estimated 200,000

Number of Chinese people in International City: Almost 50,000

Daily visitors to Dragon Mart in 2018/19: 120,000

Daily visitors to Dragon Mart in 2010: 20,000

Percentage increase in visitors in eight years: 500 per cent

Getting%20there%20and%20where%20to%20stay
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